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Ottawa Bancorp, Inc. (symbol: OTTW) is the holding company for Ottawa Savings Bank, a financial institution headquartered in Ottawa, Illinois. Established in 1871, Ottawa Bancorp has a longstanding history of providing a wide range of financial services to both individual and corporate customers in Illinois.
The company's deposit products include checking accounts, money market accounts, regular savings accounts, club savings accounts, certificates of deposit, and various retirement accounts, catering to diverse customer needs. The bank also offers a comprehensive loan portfolio that encompasses one-to-four family residential real estate mortgage loans, home equity lines of credit, multi-family loans, non-residential real estate loans, agricultural real estate loans, commercial loans, construction loans, and consumer loans such as auto loans, share loans, and personal unsecured loans.
Ottawa Bancorp has a strong reputation for stability and reliability, which is further demonstrated by its consistent financial performance and the commitment to serving the community. The company has undergone significant changes over the years, including a name change from Ottawa Savings Bancorp, Inc. to Ottawa Bancorp, Inc. in October 2016.
Recent financial reports show detailed comparisons of operational results for various periods, highlighting the bank's performance over time. For instance, the results for the three and nine months ended September 30, 2023, were compared with the same periods in 2022, providing insights into the bank's growth and financial health.
The company's leadership consists of experienced professionals like Craig Hepner, President and Chief Executive Officer, and Marc N. Kingry, Senior Vice President and Chief Financial Officer, who are dedicated to steering the bank towards continued success.
For the latest updates and detailed financial performance, you can contact Craig Hepner at (815) 366-5437 or Marc N. Kingry at (815) 433-2525.
OTTAWA, Ill., Feb. 15, 2023 - Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.11 per share. The dividend will be payable on or about March 15, 2023, to stockholders of record as of the close of business on March 1, 2023. Ottawa Bancorp, the holding company for OSB Community Bank, offers a range of financial services, including various deposit accounts and loans, serving individual and corporate clients across the United States. Founded in 1871, OSB Community Bank is headquartered in Ottawa, Illinois.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.6 million ($0.22 per share) for Q4 2022, down from $0.8 million ($0.28 per share) in Q4 2021. Annual net income decreased to $2.5 million ($0.96 per share) from $2.9 million ($1.03 per share) in 2021. The loan portfolio rose to $307.8 million, but non-performing loans increased from $1.6 million to $2.3 million, raising the non-performing loans ratio to 0.73%. Ottawa Bancorp repurchased 954,042 shares at an average price of $13.53 each. The Company has faced challenges due to a higher interest rate environment, but net interest margin remained stable. The annual meeting of stockholders is scheduled for May 17, 2023.
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